What Is The Average Motorcycle Collision Settlement In Florida?
You were coming back from work on your motorcycle and you met with an accident!
Besides injuries and the mental trauma that you bear, there is a considerable financial loss involved on account of hefty medical bills. Being an aware individual, you must know that there is a way of claiming motorcycle accidents as the first step towards your financial recovery.
However, there is nothing like ‘average settlement’, there are several factors that contribute to deciding the settlement amount. Here are the steps to claim for motorcycle accidents in Florida:
Determining the settlement amounts
‘No-fault state’ in Florida is applicable for four-wheel drivers, where they must carry their PIP (Personal Injury Protection) coverage. However, this bylaw is not applicable for the motorcyclist.
Hence the amount of claim vaguely varies. If an insurance claim is not enough to cover your damages, you may seek an injury claim through a lawsuit filed via a Florida motorcycle accident lawyer.
Settlement is reached between the involved parties once the legal claim is filed.
Factors to be considered for settlement value assessment
As the circumstances are different for each accident, every accident involves a different settlement value. Here are the several factors which vary from one motorcyclist to another:
- The severity of damage to you and your vehicle
- The fault driver’s insurance policy
- Your insurance policy
Damages to be awarded in a motorcycle accident in Florida
Various considerations such as economic and social damages on account of the present, past, or future financial losses are taken into account for the assessment purposes.
Some of the economic damages include:
- Loss of reduced earning capacity arose out of accident-related disability
- Past or current medical expenses for the treatment post-accident
- Loss on wages due to the inability arising out of an accident
- Expenses related to future medical expenses due to accidents. For ex- Physical therapy, counseling, etc.
Special damages are easy to assess as they are exactly based on account of your loss of pay over time. The settlement related to the pain and suffering is subjective and thus difficult to assess.
Frequently Asked Questions
- How much do insurance companies pay for pain and suffering?
Depending on the type of case and amount of insurance, the insurance companies are liable to pay for the pain and suffering on account of a motorcycle accident settlement. The average typical payout stands at $15000 as most of the claims involve small injuries.
- How much should I settle for pain and suffering?
If a plaintiff has incurred $2000 on account of medical bills for the injury due to a motorcycle accident, he can multiply it by three and claim $6000 on account of suffering and pain. This is a tentative calculation that can vary depending on how much an individual has suffered due to an accident.
- How long does settlement negotiation take?
Your lawyer will arrange all the circumstantial evidence that represents your pain and suffering due to the accident. Once your medical records and other pieces of evidence supporting the claimed amount are on board, it may take 15 to 90 days to convince your insurance company to pay the claimed amount.
- How long does it take to receive an offer of compensation?
Once you accept the offer of settlement, it takes 2-4 weeks from the date of settlement till you get your offer of compensation.